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Monetary Policy within the IS-LM Framework by Shahdad Naghshpour

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Adaptive expectations, 82–83

Aggregate demand, 23–25

consumption, 23

expenditures, 23

exports, 23

foreign trade, 23

imports, 23

investment, 23

net trade, 23

transfer payments (TP), 24

Austrian macroeconomics, 77–79

Austrian school

and business cycle theory, 73–74, 79–80

Austrian macroeconomics, 77–79

economic growth, 74–75

empirical evidence, business cycle theory, 108–109

savings, role of, 75–76

signaling consumers’ wishes to producers, 76–77

Autonomous expenditures, empirical evidence, 104–108

Balanced budget multiplier, 26–27

Business cycle and discretionary policy, 65

Business cycle theory

Austrian school and, 73–74, 79–80

empirical evidence, 108–109

Cantillon effect, 9

Classical economics and crowding out, 32–33

Classical economists ...

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